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1734 Spruce St 7 Unit Apartment Building $4,507,300 CAD ($643,900 CAD/Unit) 4.72% Cap Rate Berkeley, CA 94709
Investment Highlights
- 7-unit turnkey multifamily just one block from UC Berkeley
- Over $900,000 in capital improvements with 5 fully renovated units
- Prime Berkeley location with strong student and professional rental demand
- 4.72% cap rate | 13.27 GRM with strong in-place income
- ADU development potential on large lot for additional upside
- Minimal deferred maintenance and stable long-term asset
Executive Summary
NAI Northern CA is pleased to present 1734 Spruce, a 7-unit turnkey multifamily property located one block from UC Berkeley. The unit mix consists of one studio, two 1-bed 1-bath, three 2-bed 1-bath and one spacious 3-bed 2-bath unit. Recent upgrades include installation of a fire sprinkler system, on demand water heaters, roof replacement, exterior paint, voluntary seismic and electrical / plumbing updating. With a large lot, this property is a prime candidate for ADU construction in the rear of the property. Given all of the recent upgrades and lot size, this is truly a unique asset with development potential.
1734 Spruce Street is located in the highly sought area of Normandy Village in North Berkeley. The property is walking from the North side of UC Berkeley's campus, and a 10 minute walk or less to North Berkeley Bart, multiple grocery stores, and parks. In addition, there are a variety of restaurants within walking distance of the property, from the highly acclaimed Chez Panisse to a local favorite, Saul's Delicatessen. Due to the A+ location the property will remain in high demand from high paying tenants including students and young professionals.
1734 Spruce Street is located in the highly sought area of Normandy Village in North Berkeley. The property is walking from the North side of UC Berkeley's campus, and a 10 minute walk or less to North Berkeley Bart, multiple grocery stores, and parks. In addition, there are a variety of restaurants within walking distance of the property, from the highly acclaimed Chez Panisse to a local favorite, Saul's Delicatessen. Due to the A+ location the property will remain in high demand from high paying tenants including students and young professionals.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,507,300 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $643,900 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.72% | Building Size | 4,400 SF |
| Gross Rent Multiplier | 13.27 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Price | $4,507,300 CAD |
| Price Per Unit | $643,900 CAD |
| Sale Type | Investment |
| Cap Rate | 4.72% |
| Gross Rent Multiplier | 13.27 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,400 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1913 |
| Parking Ratio | 1.14/1,000 SF |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 450 |
| 1+1 | 2 | - | 500 |
| 2+1 | 3 | - | 550 |
| 3+2 | 1 | - | 780 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 058-2181-006-00 | Improvements Assessment | $3,300,637 CAD |
| Land Assessment | $1,026,865 CAD | Total Assessment | $4,327,502 CAD |
Property Taxes
Parcel Number
058-2181-006-00
Land Assessment
$1,026,865 CAD
Improvements Assessment
$3,300,637 CAD
Total Assessment
$4,327,502 CAD
Contacts
-
Grant Chappell -
Jonathan Burmenko -
Robert Chappell -
Sam Hayes -
NAI Northern California
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1734 Spruce St
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